New York City, US-based Blackbird Labs has launched a new payment and rewards platform for restaurants, built on its blockchain network Blackbird Flynet.
Called Blackbird Pay, the new platform offers an end-to-end payment and check settlement network, significantly reducing transaction fees for restaurants.
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Blackbird Pay is poised to address the critical issue of diminishing margins in the restaurant industry by offering a cost-effective transaction fee of around 2%, a notable reduction on traditional processing fees.
The platform also seeks to enhance the dining experience by facilitating automatic settlement, eliminating the wait for the bill.
Diners can also utilise Blackbird’s native rewards points, $FLY, as a payment option.
The dining process is streamlined with Blackbird Pay; customers simply tap a Blackbird puck upon arrival to open a check within the app.
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By GlobalDataThe platform offers flexibility in payment methods, including the use of $FLY points, credit or debit cards, or a combination of both.
Diners can purchase $FLY points in-app with traditional payment methods or USDC [a digital stablecoin pegged to the US dollar].
Restaurants benefit from real-time notifications when a Blackbird guest arrives, complete with a guest value score and important customer information.
This enables establishments to tailor their hospitality, offering perks and rewards to enhance the guest experience.
Blackbird’s new messaging and discovery feature allows for seamless interaction between restaurants and diners.
Blackbird’s initiatives, such as the Blackbird Breakfast Club and Bar Blackbird, are designed to drive traffic to restaurants during off-peak hours, demonstrating the company’s commitment to addressing the challenges faced by today’s restaurant industry.
Blackbird founder and CEO Ben Leventhal said: “In the last decade, we’ve seen great advances in restaurant technology, but we have made virtually no progress with payments, which tend to be expensive, cumbersome and technologically opaque for most restaurants.
“Blackbird Pay changes all of that and we’re excited to partner with the restaurant industry to forge a new path forward.”
In 2023, Blackbird Labs raised $24m in Series A funding, led by venture capital fund a16z crypto, to foray into new markets.
